Donald Trump on Friday posted a $91.6 million bond to cover the defamation verdict in favor of writer E. Jean Carroll, and began his appeal of the case that arose from his branding her a liar after she accused him of raping her decades ago.

The bond from Federal Insurance Co, part of the insurer Chubb , would cover Carroll’s $83.3 million judgment if Trump were to lose his appeal of the Jan. 26 verdict and refuse to pay.

The posting of a bond also means Carroll, 80, wouldn’t collect on the judgment during the appeals process, which could take years.

  • girlfreddy@lemmy.caOP
    71·
    9 months ago

    Trump had a choice and chose the bond instead.

    New York-based attorney, Colleen Kerwick, told Newsweek that Trump could pay the full $83.3 million to the court, which would hold it in reserve while Trump asks Kaplan to lower the amount he must pay Carroll.

    Alternatively, Trump could secure a bond and only have to post a small percentage of the award upfront.

    Source

    • givesomefucks@lemmy.worldEnglish
      53·
      9 months ago

      I don’t know why you keep thinking I’m disagreeing with you…

      Cash is an asset. To get the bond he had to put assets up for the bond company. When it’s time to pay. If he doesn’t, they take the assets he agreed to put up.

      Due to him over valuing property, it’s likely if property was involved, the bonds company required more than what they would have to pay is, along with cash, stocks and other types of assets.